By Denny Jacob
3D Systems has expressed its willingness to modify its current merger proposal to Stratasys, which includes the addition of a 60-day go-shop period.
According to the three-dimensional printing company, this go-shop period and termination right, as outlined in the merger agreement, will enable Stratasys’ board to ensure value for shareholders while simultaneously conducting a comprehensive sale process.
“We firmly believe that a combination between 3D Systems and Stratasys offers the most appealing opportunity for Stratasys shareholders,” stated 3D Chief Executive Jeffrey Graves.
Stratasys is currently exploring strategic alternatives after its merger terms with Desktop Metal were rejected by shareholders. In May, the polymer 3D printing solutions company had reached an agreement to purchase fellow 3D-printing company Desktop Metal in a stock swap deal worth approximately $600 million. However, a preliminary vote count indicated that the proposed terms of the merger would not gain approval.
In addition to 3D Systems, Stratasys has also received offers from Nano Dimension. Despite rejecting the latest proposal from 3D Systems earlier this month, Stratasys remains committed to its all-stock merger with Desktop Metal.